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Regulating fintech businesses: the Malaysian experience

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dc.contributor.authorSherin Kunhibava
dc.contributor.authorAishath Muneeza
dc.date.accessioned2020-07-09T03:26:50Z
dc.date.available2020-07-09T03:26:50Z
dc.date.issued2020
dc.description.abstractThe Malaysian finance industry is governed by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC). BNM governs the banking and insurance industries and the SC regulates and develops its capital market. Both authorities have issued regulations to cater for the proliferation of fintech businesses. For example, BNM issued regulations on digital currency exchanges, electronic-know your customer requirements for fintech companies facilitating remittances, and a regulatory sandbox framework for fintech businesses. Similarly, the SC issued a digital investment management framework, another to facilitate equity crowdfunding, peer-to-peer lending, and digital asset exchanges, and the instrumental digital currency and digital token order. All were issued to encourage innovation in the industry, manage disruption, mitigate risks, and ensure consumer protection. This chapter will explain the steps taken by Malaysia's financial regulatory authorities in dealing with fintech-based companies, critically review the regulations, and recommend some ways forward.en_US
dc.identifier.citationKunhibava, S. & Muneeza, A. (2020). Regulating fintech businesses: the Malaysian experience. In Nader Naifar (Ed.), Impact of financial technology (fintech) on Islamic finance and financial stability (pp. 149-173). Cham, Switzerland: IGI Global.en_US
dc.identifier.isbn9781799800392
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/3227
dc.languageEnglish
dc.language.isoengen_US
dc.publisherIGI Globalen_US
dc.rights2020. IGI Global
dc.sourceSEDONA
dc.subjectMalaysiaen_US
dc.subjectFintechen_US
dc.subjectBusinesses industryen_US
dc.titleRegulating fintech businesses: the Malaysian experienceen_US
dc.typeChapter in Booken_US
dlc.maintopicFintech
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.licenseFull text not available from this repository
ikr.topic.maintopicFintech
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relation.isAuthorOfPublication81014255-5cb8-46bc-ad81-bf6d8a3a0702
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relation.isAuthorOfPublication.latestForDiscovery81014255-5cb8-46bc-ad81-bf6d8a3a0702
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